{"id":36971,"date":"2015-10-02T09:59:23","date_gmt":"2015-10-02T16:59:23","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=36971"},"modified":"2020-10-06T17:08:26","modified_gmt":"2020-10-07T00:08:26","slug":"todays-jobs-report-in-two-gloomy-charts-somethings-gotta-give","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/todays-jobs-report-in-two-gloomy-charts-somethings-gotta-give\/","title":{"rendered":"Today's Jobs Report in Two Gloomy Charts. Something's Gotta Give."},"content":{"rendered":"

The labor market continues to disappoint. In September, U.S. employers added only <\/span>142,000 jobs<\/span><\/a>, well below the 200,000 or more most economists had expected. People aren\u2019t getting raises and fewer adults have jobs or want to work.<\/span>
\nThis is our second-straight bad report. Last month, economists mostly dismissed the gloomy August jobs data because late-summer employment typically looks bad at first and is revised up later. That didn\u2019t happen this year. Job growth was worse than we thought in August, according to the Labor Department, and surprisingly low in September. A double whammy.<\/span>
\n

\"job<\/a>
Source: Bureau of Labor Statistics<\/figcaption><\/figure>
\nWe also have a worrisome, long-running trend: A smaller share of adults are working or looking for work. Perversely, that\u2019s the main reason the unemployment rate stayed low in September — fewer people are job hunting, so unemployment doesn\u2019t look so bad.
\nBaby boomers are retiring, which explains some of the trend. But adults 55 and younger are <\/span>dropping out<\/span><\/a>, too. It\u2019s called labor-force participation, and it\u2019s at its lowest since 1977. That doesn\u2019t bode well for the economy.<\/span>
\n
\"jobs<\/a>
Bureau of Labor Statistics<\/figcaption><\/figure><\/p>\n

What does this have to do with my house?<\/h2>\n

The housing market continues to be a bright spot in the economy. Sales are brisk, builders are optimistic and the Redfin <\/span>Demand Index<\/span><\/a> forecasts home prices to rise 5.1 percent this month. Something doesn\u2019t add up. <\/span>
\n\u201c<\/span>What strikes me, heading into fall, is the mismatch between jobs and housing,\u201d Redfin<\/a> chief economist Nela Richardson said. \u201cThe labor market is losing momentum while the housing market picks up steam. \u00a0Something’s gotta give, the question is what, and when.\u201d<\/span>
\nStay tuned.
\nQuestions? Comments? Lorraine.woellert@redfin.com<\/p>\n

Other popular posts:<\/span><\/strong><\/p>\n

1.\u00a0Fulfilling the American Dream: A Guide for Disabled Homebuyers<\/a><\/span><\/span><\/p>\n

2.\u00a0The Single Parent’s Guide to Buying a Home: Assistance, Grants, and Home Ownership<\/a><\/span><\/span><\/p>\n

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The labor market continues to disappoint, people aren\u2019t getting raises and fewer adults want jobs. Still, the housing market is holding strong. Something’s gotta give.<\/p>\n","protected":false},"author":13355,"featured_media":36975,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[78,32],"coauthors":[],"class_list":["post-36971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","tag-career","tag-housing-market-tracker"],"acf":[],"yoast_head":"\nToday's Jobs Report in Two Gloomy Charts. 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